ECB's Escriva praises Spain's inflation consistency at 2.4% - Breaking The News

ECB's Escriva praises Spain's inflation consistency at 2.4%

13 December

1 min read

PA-EFE/BORJA SANCHEZ-TRILLO

European Central Bank (ECB) member and recently appointed Governor of the Bank of Spain, Jose Escriva (pictured), celebrated Friday the latest inflation data from Spain, which confirmed that inflation in November remained at 2.4%, consistent with earlier estimates.

Earlier during the day, it was confirmed by the country's National Statistics Office (INE) that the annual inflation rate in Spain for the second last month of the year came in at 2.4%, rising from October's 1.8%. Month-on-month, the prices increased by 0.2%. The Harmonized Index of Consumer Prices (HICP) grew by 2.4% on an annual level.

Speaking on Espejo Publico, Escriva said the numbers show the “success” of economic decisions and that it is favorable for citizens "to know that the value of their money and their purchasing power are guaranteed." Regarding the ECB's latest 25-basis-point cut, he said it is "logical" to think there will be more rate cuts in upcoming monetary meetings.

inflation ecb escriva

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